Navigation Links
BioSpecifics Technologies Corp. Buys Down Royalties for Peyronie's Disease
Date:9/5/2008

LYNBROOK, N.Y., Sept. 5 /PRNewswire-FirstCall/ -- BioSpecifics Technologies Corp. (OTC Bulletin Board: BSTC), a biopharmaceutical company developing first in class collagenase based products, announced today that it has signed an agreement to significantly improve the deal terms related to its future royalty obligations for Peyronie's disease by buying down its future royalty obligations with a one-time cash payment.

BioSpecifics has modified its previously announced agreement to lower future royalties payable on net sales of its injectable collagenase, XIAFLEX(TM), for Peyronie's disease. The Company has taken this strategic step because of the imminent initiation of the Phase 2b clinical trial, lack of currently available desirable therapeutic options for Peyronie's patients, the strong commitment of the Company's partner Auxilium Pharmaceuticals to pursue the development for this clinical indication and the results of the three separate positive clinical trials published to date.

BioSpecifics has previously announced that its third party royalty obligations for Dupuytren's disease are 0.5% of net sales.

Auxilium is obligated to pay low double digit royalties at a flat rate as a percentage of future worldwide net sales for all clinical indications, irrespective of territory, and independent of sales volume. BioSpecifics will also receive a percentage of non royalty payments (upfront, milestones, etc.) if Auxilium sub-licenses the marketing rights to a third party. In addition, BioSpecifics will receive a certain percentage mark up on cost of goods based on Auxilium's manufacturing costs.

About Peyronie's Disease

Peyronie's disease is characterized by the presence of a collagen plaque on the shaft of the penis, which can distort an erection and make intercourse difficult or impossible in advanced cases. The plaque is not elastic and it does not stretch during erection. In some mild cases, the plaque can resolve spontaneously without medical intervention. The most common plaque forms on the top of the penis causing the penis to arc upward. In severe cases, the penis can be bent at a 90-degree angle during erection. Significant psychological distress has been noted in patients with Peyronie's disease who are sexually active. Frequent patient complaints include increased pain, painful erections, palpable plaque, penile deformity, and erectile dysfunction. Patients with Peyronie's disease have been reported to have an increased likelihood of having Dupuytren's disease, frozen shoulder, plantar fibromatosis, knuckle pads, hypertension and diabetes. Peyronie's disease typically affects males in the range of 40-70 years. The cause of Peyronie's disease is unknown, although some investigators have proposed that it may be due to trauma or an autoimmune component. A number of researchers have suggested that the incidence of Peyronie's disease has increased due to the use of erectile dysfunction drugs.

Auxilium Pharmaceuticals has estimated that there are 210,000 potential candidates in the US and Europe for XIAFLEX treatment on an annual basis.

About BioSpecifics Technologies Corp.

BioSpecifics Technologies Corp. is a biopharmaceutical company that has developed and licensed injectable collagenase for three clinical indications: Dupuytren's disease, Peyronie's disease and frozen shoulder (adhesive capsulitis). The positive top line results for the Phase 3 trials on Dupuytren's disease have been previously announced. BioSpecifics has a development and licensing agreement with Auxilium Pharmaceuticals, Inc. More information about the Company may be found on its website at http://www.biospecifics.com.


'/>"/>
SOURCE BioSpecifics Technologies Corp.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. BioSpecifics to Present at the 9th Annual Healthcare Conference of Acumen Bio Fin Rodman Renshaw LLC
2. BioSpecifics Technologies Corp. Announces Sale of Stock in Private Placement Offering
3. BioSpecifics Technologies Corp. Announces Repayment of Outstanding Loan
4. BioSpecifics Technologies Corp. Announces Sale of Stock in Private Placement Offering
5. BioSpecifics Technologies Corp. Announces Additional Sales of Stock in Private Placement Offering
6. BioSpecifics Technologies Corp. Reports Second Quarter 2008 Financial Results
7. Emisphere Technologies, Inc. Announces Pricing of Registered Direct Offering
8. Healthcare Technologies Calls for a Shareholders Meeting to Approve the Nexgen Biofuels Transaction
9. Healthcare Technologies Reports Loss for 2007 Second Quarter & Six Months Results
10. BioMaxx Systems Inc. Signs Engagement Letter With Alcofuel Technologies for Provision of an Ethanol Micro-Refinery
11. Amyris Biotechnologies Co-Founder Neil Renninger Named to Technology Reviews Prestigious TR35 List of Top Young Innovators
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/9/2016)... ... February 09, 2016 , ... The American Academy of Thermology (AAT) ... its 2016 AAT Member Certification Qualification Course for Technicians via a two part webinar ... will include a detailed review of hardware, software, and camera setup/operations, aligns with the ...
(Date:2/9/2016)... Feb. 9, 2016  DNAtrix, a clinical ... cancer, announced that its lead product, DNX-2401, ... as an orphan medicinal product for the ... of glioma, strikes approximately 25,000 people a ... http://photos.prnewswire.com/prnh/20160208/330986LOGO --> ...
(Date:2/9/2016)... LEXINGTON, Massachusetts , February 9, 2016 ... Enables Children to Take Part in Life-Changing Camp ... announcing a new initiative designed to positively affect the lives of ... rare disease care. --> SHPG ) is announcing a ... with rare diseases, as well as the future of rare disease ...
(Date:2/8/2016)... ON , Feb. 8, 2016 /PRNewswire/ - BIOREM Inc. ... to the top ten finalists for clean technology companies in ... are the top 10 companies listed on the TSX Venture ... oil & gas, clean technology & life sciences, ... with equal weighting given to return on investment, market cap ...
Breaking Biology Technology:
(Date:2/2/2016)... --Technology Enhancements Accelerate Growth of X-ray Imaging This ... computed radiography markets in Thailand , ... (TIM). It provides an in-depth analysis of ... regional market drivers and restraints. The study offers revenue ... attractiveness, both for digital and computed radiography. Market participants ...
(Date:2/1/2016)... smart wallet ( www.wocketwallet.com ) announces the launch of a new video ... Las Vegas , where Joey appeared at the Wocket ... Vegas , where Joey appeared at the Wocket booth to meet ... filmed at the Consumer Electronics Show (CES2016) in Las Vegas ... greet fans. --> --> The ...
(Date:1/22/2016)... DUBLIN , January 22, 2016 ... has announced the addition of the  ... to their offering. --> ... of the  "Global Behavioral Biometric Market ... --> Research and Markets ( http://www.researchandmarkets.com/research/4lmf2s/global_behavioral ...
Breaking Biology News(10 mins):